Two-Unit Brick
For Sale
$639,000
81 Q STREET SW, Washington, DC 20024
Separately metered property with flexible owner-occupant, office, and continued commercial use potential.
Property Size1,120 SF
Price / SF$570.54
Days on Market10
Property Features for 81 Q STREET SW
General Information
Standard status
Active
Size
1,120 SF
Property subtype
Duplex
Zoning
CG-4
Taxes and HOA fees
Annual Taxes
$5,260
Building Details
Building Size
1,120 SF
Year Built
1941
Construction
brick
Listing Agency:
Capital Area Realtors of DC
(571) 282-8742
Listed By:
Kathy Mason · License #BR98369898
(571) 282-8742
Source:
Kerishull
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 23 at 7:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Capital Area Realtors of DC
Investment Insights
Based on property information with market context.
Built in 1941, this 1,120-square-foot brick duplex contains two separately metered units and is described as having systems in good condition. The configuration supports several documented approaches, including owner occupancy with supplemental rental income, a live-work arrangement, office use, or continued commercial operation.
The property is zoned CG-4 (Capitol Gateway) and has mixed-use potential that includes multifamily, ground-floor retail, office, and service uses, with heights up to approximately 65 feet. Its address is 81 Q Street SW in Washington, DC, near Nationals Park, Audi Field, Cambria Hotel, and The Wharf. Navy Yard and Waterfront Metro stations are within walking distance, with restaurants, shops, hotels, and entertainment in the surrounding area.
The property is zoned CG-4 (Capitol Gateway) and has mixed-use potential that includes multifamily, ground-floor retail, office, and service uses, with heights up to approximately 65 feet. Its address is 81 Q Street SW in Washington, DC, near Nationals Park, Audi Field, Cambria Hotel, and The Wharf. Navy Yard and Waterfront Metro stations are within walking distance, with restaurants, shops, hotels, and entertainment in the surrounding area.
Key Highlights
- Two‑unit brick building totaling 1,120 sq ft
- Separately metered units
- Built in 1941
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,067
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$401,340
$401.3K
Cap Rate 7%
$286,671
$286.7K
Cap Rate 9%
$222,967
$223.0K
Market Conditions
NOI Build-Up for 1,120 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.2K $27.00/SF
− Vacancy
−$1.6K −$1.40/SF
EGI
$28.7K $25.60/SF
− OpEx
−$8.6K −$7.68/SF
NOI
$20.1K $17.92/SF
Area
Washington, DC
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$401,340
Cap Rate 7%
$286,671
Cap Rate 9%
$222,967
Alternative Uses
Best Use
Multifamily LT 5
$286.7K
$250.8K – $334.5K
NOI $20,067 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$265.8K
$232.6K – $310.2K
NOI $18,609 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$576.1K
$504.1K – $672.1K
NOI $40,326 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,861
Businesses Nearby
Explore this area
Business Placement
Demographics for 20024, DC
15,952
Population
11,560
Households
1.4
Avg Household Size
37
Median Age
70%
College-Educated
94%
High-School Grad
2.2 sq mi
ZIP Area
7,251
Density / Sq Mi
$102,623
Median Household Income
$94,419
Median Earnings
$2,121
Median Rent
$497,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separately metered property with flexible owner-occupant, office, and continued commercial use potential.
Where is this duplex located?
The property is located at 81 Q STREET SW Washington, DC.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Two‑unit brick building totaling 1,120 sq ft; Separately metered units; Built in 1941
